Quarterly return monthly payment scheme requires quarterly GST returns with monthly tax deposits, specifying eligibility and payment methods. The QRMP Scheme allows eligible GSTINs (aggregate turnover up to five crore in the preceding year) to file returns quarterly while paying tax monthly in the first two months by either a portal-calculated fixed sum method or a self-assessment method. Outward supplies are reported quarterly in GSTR-1 with an optional Invoice Furnishing Facility for limited monthly invoice reporting to enable recipient ITC visibility. Monthly deposits are credited against the quarter's liability on filing FORM GSTR-3B; interest and late fees apply under prescribed conditions and timelines.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Quarterly return monthly payment scheme requires quarterly GST returns with monthly tax deposits, specifying eligibility and payment methods.
The QRMP Scheme allows eligible GSTINs (aggregate turnover up to five crore in the preceding year) to file returns quarterly while paying tax monthly in the first two months by either a portal-calculated fixed sum method or a self-assessment method. Outward supplies are reported quarterly in GSTR-1 with an optional Invoice Furnishing Facility for limited monthly invoice reporting to enable recipient ITC visibility. Monthly deposits are credited against the quarter's liability on filing FORM GSTR-3B; interest and late fees apply under prescribed conditions and timelines.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
